CBN Retains Lending Rate, Says Economic Recovery Still Fragile       The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, who disclosed this after the committee’s two-day meeting in Abuja also...

Economy sustains recovery with 0.51% GDP growth in Q1 Nigeria’s economy appears to be on sustained recovery from recession as the Gross Domestic Product (GDP) grew by 0.51% (year-on-year) in real terms in the first quarter of 2021 (Q1’21). This marks two consecutive quarters of...

Rising Inflation May Push CBN To Hike Interest Rates         The Central Bank of Nigeria (CBN) may be forced to adjust its hold-down position and increase benchmark interest rate as inflation surged by its largest rise in eight years to 15.75 per cent. Most analysts said they...

CBN Disbursements On 3.1m Projects Rise To N6.01trn         The Central Bank of Nigeria’s financial disbursements on about 3.1 million projects have risen to N6.01tn, the apex bank has said. It was learnt that the over three million projects were financed through 29 interventions, while the bank...

CBN Battles Recession, Raises COVID-19 Facility To N300bn       Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday said the bank would raise its COVID-19-targeted facility from N150 billion to N300 billion in order to accommodate more Nigerians in a bid to cushion the impact...

CBN Rebukes Those Using Parallel Market To Push For Naira Devaluation       Those using parallel market rates to put pressure on the Central Bank of Nigeria (CBN) to devalue the Naira won’t have their way. The CBN Governor, Mr. Godwin Emefiele gave this indication at the end...